Trading recommendation $XLM with wave analysis:
Entry Point: 0.4580 – 0.4610
Profit Targets:
Target One: 0.4650 (end of the second corrective wave)
Target Two: 0.4700 (beginning of the third impulsive wave)
Target Three: 0.4740 (extension of the third wave)
Stop Loss: 0.4550 (breaking the support level disrupts the bullish wave scenario)
Analysis:
The price is currently in a small corrective wave (the second wave) within a main upward trend. Entering in the mentioned area aims to complete the strong third wave, which usually represents the largest upward movement in wave analysis. The stop loss ensures capital protection in case the movement turns against the expected direction.
